Plans to complete Bellefonte Nuclear Plant to be unveiled

Completion of the Bellefonte Nuclear Plant in northeast Alabama will have an economic output of more than $12 billion and create more than 8,000 jobs.

That's according to a statement Friday by Shelia Shepard, president and CEO of the Jackson County Economic Development Authority.

Plans for completing the mothballed plant - sold by TVA at auction in 2016 for $111 million - will be unveiled Monday.

"According to a University of Alabama economic impact analysis, the completion of Bellefonte would generate $12.6 billion in economic output and create more than 8,000 jobs," Shepard said in a press release announcing the meeting.

"Significant economic development opportunities like Bellefonte don't just happen as a result of a single person's efforts. Rather, this project is a culmination of years of hard work by a team of dedicated professionals that include investors, nuclear industry leaders and public officials."

The plant was purchased by Nuclear Development LLC, which is owned by Chattanooga developer Franklin Haney. The sale is scheduled to close in the fall and TVA officials have said the purchase remains on course for completion.

Big numbers associated with the completion of the plant are nothing new. Nuclear Development said in its proposal to buy the plant that it would provide 12,000 jobs and an annual economic impact of $1 billion.

The numbers are also consistent with a letter sent to President Trump earlier this year by several members of Congress - including U.S. Rep. Mo Brooks, whose north Alabama district includes Bellefonte.

Such a development would be a jolt to its home in largely rural Jackson County, which has a population of only 52,000.

"For many years, I have been committed to the Tennessee Valley, having invested billions of dollars in a region that continues to outpace the rest of the country in terms of job creation and economic growth," Haney said in the announcement. "I have eagerly awaited the opportunity to invest in clean, carbon-free energy projects that will offer people safe, clean and affordable sources of power. That's exactly what Bellefonte will offer the people of Alabama, Tennessee, Georgia and the surrounding region. I'm excited to announce that the finest team of nuclear engineers will take over the project and bring Bellefonte to a long-awaited completion."

Montreal-based SNC-Lavalin was selected to manage completion of the construction project last month, according to the announcement. Preston Swafford, a former TVA executive vice president and chief nuclear officer, is now the chief nuclear officer at SNC-Lavalin.

"The impetus to complete the Bellefonte plant signifies that nuclear power has regained interest as an energy source that is necessary as part of the overall energy portfolio in the US," Swafford said.